Timeframe: 2h
NSE national aluminum has started forming an impulse channel for more than a month in 2h timeframe chart. the price is trading above 50/100/200 EMA. Wave 4 was flat at 91.2, and the price has started constructing impulsive wave 5 of wave (3). There is a high chance that the price will make a new price extreme after a demand pressure.
According to the wave principle, price permitted an impulse behavior after the breakout of 3rd wave high. If the price sustains above 94, traders can trade for the following targets: 96.50 – 98.35 – 99.25+. The setup will be invalid if it fails to break the given level.
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